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Why SHIB ‘to the moon’ may be ‘very possible’

2min Read

Though some holders are counting their losses, SHIB may be about to place foot on the gas pedal.

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  • Network profitability sunk, but a bounce off recent lows could be next.
  • SHIB’s price might climb to $0.000012 if capital inflow increases.

If history were to repeat itself, then Shiba Inu’s [SHIB] price might be on the verge of a breakout. AMBCrypto came to this conclusion after assessing the Network Realized Profit/Loss.

At press time, Shiba Inu’s Network Realized Profit/Loss had capitulated to -83.49 million.

The metric tracks capital inflows and outflows, and trends in network profitability. Progressively positive values indicate capital inflows and profits realized on-chain.

But when this happens, it increases the probability of hitting a local top. In this instance, SHIB’s price might fall as demand could drop.

However, the negative reading of the Network Realized Profit/Loss indicates high capital outflows. Furthermore, deep low values of the metric could trigger a rebound. Therefore, SHIB could be looking at swinging higher than $0.00001.

Shiba Inu flashing a bullish signal on-chain

Source: Santiment

All seems set to take SHIB higher

SHIB’s recovery to $0.00001 only happened recently. From our observation, the negative reading of Network Realized Profit/Loss played a part in the climb.

However, the memecoin attempted to hit $0.000011 around the same period. But it could not as bears forced a rejection.

It is important to note that the metric alone cannot dictate if SHIB would head to the moon or not. For context “to the moon” is a phrase used to describe a cryptocurrency’s price soaring to an astronomical valuation.

Therefore, we considered it necessary to analyze other possible catalysts.

One indicator we checked was the Shiba Inu burn. SHIB burn occurs when some of the tokens are removed from circulation. Typically, this destruction is supposed to stabilize the value and potentially increase the price. But as AMBCrypto reported, it does not happen all the time.

At press time SHIB burned in the last 24 hours increased by 298.21%. When combined with the metric initially mentioned, it offers SHIB a higher possibility of breaking out.

If intense buying pressure appears at this stage, SHIB’s price might move toward $0.000011.

The next stop may be $0.000012

When we looked at SHIB from a technical angle, we noticed that the Supertrend flashed a buy signal. But the 4-hour SHIB/USD pair showed that the buy signal was at $0.0000094.

Therefore, the token can fall from $0.00000989. Should the price fall to this level, then traders might consider opening buy orders.

Meanwhile, the Money Flow Index (MFI) showed that Shiba Inu’s capital inflow had reduced. This decrease implies that some holders were cashing out recent gains while some who have held for a while might be counting their losses.

Shiba Inu price analysis showing a potential increase to $0.000012

Source: TradingView


Read Shiba Inu’s [SHIB] Price Prediction 2024-2025


If bulls decide to keep SHIB from plummeting, then the MFI reading could climb. Should the MFI reading increase, SHIB’s price might extend to $0.000012.

From its press time price, this represents a 17.5% increase for the token. Considering the current market sentiment, this does not seem impossible to achieve.

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Victor Olanrewaju is a full-time journalist at AMBCrypto. Settled in Lagos, his fascination with blockchain technology and the cryptocurrency market arose out of his love of freedom and everything free. As a Nigerian, Victor understands the impact unfounded financial restrictions have on a population. He sees Bitcoin and cryptos as a way to circumvent these obstacles, as a tool for value creation despite all the setbacks. A graduate in Physics, Victor previously worked as a Senior Marketer at Melange Technologies. Before that, he dealt with crypto-marketers on a regular basis in his capacity as Copywriter at Ventrix Media. At AMBCrypto, Victor’s focus is on assessing the real effectiveness of both on-chain and off-chain developments on a project and its community sentiment.
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